Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. Iraq was the largest beneficiary from China's Belt and Road Initiative (BRI) in 2021, according to a study by the Green Finance & Development Center, at Shanghai's Fudan University. It says the country with the highest construction volume was Iraq, with about $10.5 billion, followed by Serbia (about $6.8 billion) and Indonesia […]
By John Lee. The Cabinet held its regular meeting on Tuesday, under the chairmanship by Prime Minister Mustafa Al-Kadhimi. In the presence of the Governor of Najaf, Mr. Majid Al-Waeli, the Cabinet agreed a number of measures to improve public services in Najaf: Construction of a second bridge in the Abbasid district Completion of Ya […]
By John Lee. SAGMAN Company for Construction and Contracting Ltd has won a new contract with the United Nations Secretariat in Iraq. The $193,116 deal is for the construction of 15 core housing units in Sinjar (Tel Qasab Complex) District, in Ninewa Governorate. In November, the company was awarded a a contract for the construction […]
The United Nations Development Programme (UNDP) in Iraq welcomes a EUR 5 million (US$ 5.63 million) contribution from Government of the Kingdom of the Netherlands to UNDP's Funding Facility for Stabilization (FFS), which finances fast-track initiatives to stabilize areas liberated from the Islamic State of Iraq and the Levant (ISIL). This new commitment brings the […]
The United Nations Development Programme (UNDP) in Iraq welcomes a EUR 50,000 (US$ 56,609) contribution from the Government of Romania to UNDP's Funding Facility for Stabilization (FFS), which implements fast-track initiatives to stabilize areas liberated from the Islamic State of Iraq and the Levant (ISIL). Romania's first contribution makes it the 30th partner to fund […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for December of 101,579,927 barrels, giving an average for the month of 3.277 million barrels per day (bpd), almost equal to the 3.273 million bpd exported in November. The exports from the oilfields in central and southern Iraq amounted to 98,570,290 barrels, while […]
UK-based Aggreko has announced that it has completed commissioning of the largest flare-gas-to-power project in the Middle East to date at 165 MW capacity. The plant is situated nearby the Saqala [Sarqala] Field, Garmain block, South East Kurdistan. The 165 MW modular power plant has run at full capacity for 72 hours in the project's […]
By John Lee. Iraq and Saudi Arabia have signed a memorandum of understanding (MoU) to link their power grids. It was signed by Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman, and Iraq's Minister of Electricity, Adel Karim. The Secretary-General of Iraq's Council of Ministers, Dr. Hamid Naim Al-Ghazi [Hamed Al Gazi], called on […]
By John Lee. The Iraqi Cabinet has directed the Ministry of Finance to provide 15 billion dinars (approximately $10 million) to the Ministry of the Interior, the Agency for Federal Security Affairs, and the Border Guard Forces Command, to enhance security and start the second phase of construction of a concrete barrier between Wadi Al-Ajeeh […]
By John Lee. The Kurdistan Development Corporation (KDC) has bought the majority shareholding of Erbil-based KREDCO Real Estate Limited Company. KREDCO has previously been described as a joint venture between the KDC and the Kuwait-based National Real Estate Company (NREC). According to a disclosure to the Kuwaiti stock exchange, NREC said it sold its 51-percent […]
By John Lee. The Secretary-General of Iraq's Council of Ministers, Dr. Hamid Naim Al-Ghazi [Hamed Al Gazi] has laid the foundation stone for a 200-bed general hospital in Shatra City, in Dhi Qar province. The hospital will serve the inhabitants of Shatra and the surrounding areas. UK-based Protechnique will complete the project within 36 months, […]
The United Nations Development Programme (UNDP) in Iraq welcomes an additional PLN 1 million (approximately US$ 244,000) contribution from the Government of Poland to its flagship Funding Facility for Stabilization (FFS). This critical support will focus on stabilizing the five governorates liberated from the Islamic State of Iraq and the Levant (ISIL) to facilitate the […]
